Page 2 - March 2018 Newsletter

Message from the President

Last month, we were honored to host our members and the industry’s top thought-leaders for our
47th Annual Conference, “Leadership in Innovation, Insight for Energy.” From the important
outlooks for the exploration industry shared by our Exploration Executive Panelists and keynote
speaker Stephen Greenlee, President of ExxonMobil Exploration, to Dr. Scott Tinker’s presentation
on the Global Energy Scene and the thought-provoking panel on the industry’s role in public
education and influence capping our day, the IAGC conference was a resounding success!

There is not a more critical time, nor a more suitable group of innovators and leaders to stimulate discussions for
solutions on the most challenging issues the geophysical and exploration industries face today. By 2040, an estimated
two billion citizens will be added to the world’s population, increasing global energy demand by at least 25%, requiring the
E&P industry to produce an additional 61 million barrels per day beyond what is already being produced. Oil and natural
gas will supply at least 55% percent of the global energy demand, providing a superior energy source for transportation
and thousands of byproducts essential to everyday life, powering industrial growth, and lifting many out of poverty.
While exploration’s share of upstream investment has decreased, slipping below 10% since 2016 and appearing stagnant,
as the geophysical industry enters its sixth year of downturn, investment in oil and gas remains essential to meet the
growing energy demand. And that investment starts with us.

For decades, IAGC’s members have spurred exploration and defined insight for energy, bringing needed energy resources
to the world. As we say, Energy Starts Here TM . For the geophysical industry to survive, there needs to be exploration.
For exploration to survive, there needs to be an increased fight for access.

The downturn has spurred a need for discipline, innovation, and increased efficiencies across all sectors of the oil and gas
industry. The exploration industry’s investment in advocacy efforts should be no different. At IAGC, we too are pursuing
innovative strategies, efficiencies and excellence in our execution and collaboration to advance the exploration industry.
This is why the IAGC has articulated four guiding priorities for our Association:

1. Ensure the Industry’s Freedom to Operate. For our members to succeed, they need access to
commercial opportunities around the world, which is our core objective and key to the industry’s viability.

2. Raise the Visibility of the Industry. The IAGC is increasing our international engagement and forging
strategic partnerships to elevate the visibility of our members and position the industry for future success.

3. Strengthen the Health of the Industry. Every day, we are promoting global comprehensive strategies to
address pressing issues that pose risks of impact to the industry’s regulatory and fiscal certainty.

4. Increase the Depth and Breadth of our Association. Although the seismic industry continues to weather
a trying business climate and many companies are focusing inward, our members have continued to stand
with the IAGC in leading the oil and gas industry’s strategy on exploration access issues. The addition of
our Industry Partners (ExxonMobil, Shell, Apache, BHPBilliton, Statoil, Anadarko, Woodside, Tullow, and
ConocoPhillips) has also helped to ensure the continuity of our mission.

As we enter our 47th year of representing the world’s geophysical and exploration industries, we encourage you to
increase your involvement in your Association. Attend one of our upcoming member town hall meetings, share the IAGC’s
news and resources with your colleagues, and ensure your company is engaged in our committee work and industry
efforts. Your support and involvement remain the driving force behind the IAGC’s success in advancing positive changes
for our industry and ensuring your freedom to operate.

Nikki Martin
President, IAGC

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